The current status of various algal industries

Algae are photosynthetic organisms that live in aquatic, fresh, and wastewaters environments. In the sector of algae biomass, there is a necessity to improve the different activities and research to overcome several high technology barriers. In the biotechnology field, algae have potential to supply bioactive compounds and novel chemicals. There is an need to harness the wealth of algal diversity for different implementations. In terms of their applicability in local and world markets, algal biomass is a source of energy (biofuels), fertilizer, pollution control, stabilization, nutrition, high-value molecules, and different bioactive metabolites to be explored for new drugs. This chapter explains the advantages and challenges of biofuel production and the commercial production of specific bioactive compounds from algae. Furthermore, this review focuses specifically on the broad application potential of macro- and microalgae in the renewable energy field such as bioethanol products, biodiesel, biomethane, biobutanol, bio-oil, and biohydrogen production. The chapter also covers algae-based nonenergy applications, such as pharmaceuticals, the anticancer and antiviral activity of algal substances, pigments, food ingredients, cosmetics, aquaculture feed, and wastewater treatment by marine algae.